For too long, the rules of Wall Street have been written by the bankers themselves. This year, that has to change.
Americans for Financial Reform is working to reform the nation's lending industry and financial system. We're working to protect Americans' neighborhoods, homes and pocketbooks by creating an economy that works for everyone.
Washington, DC – Americans for Financial Reform, a coalition of over 200 groups, released the following statement today on Chairman Dodd’s financial reform legislation:
Heather Booth, Executive Director, Americans for Financial Reform: “We applaud Chairman Dodd …
Heads they win, tails we lose! Wall Street gambled with our savings, collected billions, and then left taxpayers to pay the price when the economy went south. We need new rules to keep Wall Street in line. Read more.
To restore the economy and create jobs, banks must offer good, safe loans to consumers, homeowners and businesses. We need to end the foreclosure crisis and stop people losing their homes, and we need community reinvestment that directs responsible lending to our communities and businesses. Read more.
No more foxes guarding the chicken coop: banks should not be able to pick their own regulators. And “too big to fail” should be too big to exist. To prevent the next crisis, we need accountable, transparent and democratic regulators to prevent banks from getting too big or acting irresponsibly. Read more.
We need this agency to protect us from abusive financial products, just as we have clear rules to prevent the sale of poisonous food, drugs with deadly side effects, and toasters that are likely to explode. Read more.
The CFPA must be independent – not subject to veto or approval by any prudential regulator or any other person or board. Read why.
Americans for Financial Reform has been getting lots of press attention related to the recent financial reform video from FunnyorDie, which you can read more about and watch here. Here is a sample of news …
Make Markets Be Markets: A Groundbreaking Conference Hosted by the Roosevelt Institute
On March 3rd, the Roosevelt Institute gathered some of the nation’s leading financiers, economists, and former regulators to release a report outlining critical actions …
This information is courtesy of AFR member the National Consumer Law Center:
In the debate over the Consumer Financial Protection Agency (CFPA), some have argued that an independent CFPA might issue rules that jeopardize bank safety …
This article from Zach Carter with SNL Financial outlines the problems with the current regulation, and lack thereof, of Refund Anticipation Loans.
Click here for the article (pdf).